RideECO, a program of the Delaware Valley Regional Planning Commission (DVRPC), allows employers and commuters to save by putting pre-tax dollars toward fares on public transportation and vanpools. Currently, nearly 500 employers and over 10,000 employees participate in RideECO.
“This new feature enables employees to utilize the RideECO program to extend the reach of their commute, and may open the program to new users,” said DVRPC Executive Director Barry Seymour. “This results in greater savings for both the employee and the company.”
A RideECO commuter benefit program has many benefits. It can:
- Save money – Employees save when they use RideECO by using pre-tax dollars to pay for their transit and vanpool costs -- in excess of $900 a year on their commute costs. And, employers can save more than $230 per participating employee on FICA taxes each year.
- Help the environment – Employees who commute by transit are also helping to improve the region’s air quality, by reducing emissions associated with driving alone to work.
- Encourage transit ridership – RideECO boosts transit ridership in Greater Philadelphia. A recent survey showed that almost 20% of new RideECO users are new public transit users, and 65% of those new riders make 10+ trips/week. Many program participants say they shifted to using monthly passes vs. individual tickets or tokens. The survey showed a nearly 30% increase in monthly SEPTA pass purchases and an almost 10% increase in use of PATCO FREEDOM cards.
RideECO makes it possible for employers who wish to take advantage of this tax-free benefit, to offer it to employees in a variety of ways, including vouchers, fare materials and a RideECO stored value card. RideECO Select, a premium option best suited for larger companies, eases the employer’s administration of the program and allows for direct distribution of the benefit to employees’ homes. RideECO products are accepted as payment for fares on all major transit providers and vanpool services in the region and beyond.
For more information on RideECO, visit www.RideECO.org or send an email message to [email protected].
For step-by-step instructions on how to add your RideECO prepaid commuter benefit card to uberPOOL, visit https://newsroom.uber.com/poolcommutes/. [Note: only uberPOOL service and vehicles are eligible for payment with the RideECO card.]